Cirsa-Lottomatica merger plan includes €1bn in shareholder payments
Cirsa and Lottomatica reportedly plan about €1bn in extraordinary shareholder payments linked to their proposed merger. The plan includes a €262m payment to Cirsa shareholders at €1.56 per share and a further €744m distribution after the merger; Deutsche Bank and Barclays have provided a bridge loan of up to €1bn with a 12-month maturity.
The proposed distributions and bridge loan affect the merger’s financing and shareholder returns.